Brief: Ford Otosan Says It Signs Ford Trucks Business Agreement With Ford Motor and Ford Global Technologies LLC

Ford Otomotiv Sanayi AS

11/03/2025 06:44

March 11 (Reuters) - FORD OTOMOTİV SANAYİ FROTO.IS:

SAID ON MONDAY IT SIGNS "FORD TRUCKS BUSINESS AGREEMENT" WITH FORD MOTOR COMPANY AND FORD GLOBAL TECHNOLOGIES LLC, AND "FORD TRUCKS TRADEMARK LICENSE AGREEMENT" WITH FORD MOTOR COMPANY

THESE AGREEMENTS WERE SIGNED TO REPLACE 2011 GLOBAL CARGO COOPERATION AGREEMENT AND THE GLOBAL CARGO TRADEMARK LICENSE AGREEMENT BETWEEN PARTIES FOLLOWING CLOSURE OF FORD MOTOR COMPANY BRAZIL LTDA.'S SAO BERNARDO DO COMPO HEAVY COMMERCIAL VEHICLE PLANT IN SOUTH AMERICA, WITH THE AIM TO REFLECT CURRENT BUSINESS CONDITIONS

FORD OTOSAN WILL CONTINUE TO HAVE EXCLUSIVE MANUFACTURING AND DISTRIBUTION RIGHTS FOR FORD-BRANDED HEAVY TRUCKS EXCEEDING 15 METRIC TONS FOR MARKETS IN WHICH IT CURRENTLY OPERATES AND WILL ALSO HAVE THESE RIGHTS FOR CERTAIN ADDITIONAL MARKETS FORD OTOSAN MAY EVALUATE IN FUTURE

FORD OTOSAN ALSO RECEIVES A LICENSE FROM FORD FOR PRODUCT DEVELOPMENT AND MANUFACTURING INTELLECTUAL PROPERTY AS WELL AS THE FORD TRADEMARKS

IN RETURN FORD OTOSAN WILL PAY FORD MOTOR COMPANY A MARKET FEE, TRADEMARK LICENSE FEE, AND INTELLECTUAL PROPERTY FEE FOR THE GRANTED RIGHTS AND LICENSES

PRODUCTS PRODUCED FOR TURKISH MARKET WILL BE SUBJECT ONLY TO INTELLECTUAL PROPERTY FEE

AGREEMENTS WILL HAVE AN INITIAL TERM UNTIL DECEMBER 31, 2038 AND WILL BE RENEWED FOR TWO-YEAR PERIODS UNLESS EITHER PARTY DECIDES NOT TO RENEW IT

 Source text: nIKAbJNpMH
 Further company coverage: FROTO.IS

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))